Pfizer Inc. (PFE) Stake Raised by Mcrae Capital Management Inc.
Mcrae Capital Management Inc. boosted its stake in Pfizer Inc. (NYSE:PFE) by 17.2% during the second quarter, Holdings Channel reports. The firm owned 12,595 shares of the biopharmaceutical company’s stock after buying an additional 1,852 shares during the period. Mcrae Capital Management Inc.’s holdings in Pfizer were worth $443,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently bought and sold shares of PFE. Franklin Resources Inc. increased its stake in Pfizer by 16.7% in the first quarter. Franklin Resources Inc. now owns 62,902,993 shares of the biopharmaceutical company’s stock valued at $1,864,446,000 after buying an additional 9,005,107 shares in the last quarter. NN Investment Partners Holdings N.V. bought a new stake in Pfizer during the first quarter valued at $242,144,000. First Manhattan Co. increased its stake in Pfizer by 127.5% in the first quarter. First Manhattan Co. now owns 8,335,663 shares of the biopharmaceutical company’s stock valued at $247,069,000 after buying an additional 4,671,057 shares in the last quarter. Jana Partners LLC increased its stake in Pfizer by 46.8% in the first quarter. Jana Partners LLC now owns 13,460,304 shares of the biopharmaceutical company’s stock valued at $398,963,000 after buying an additional 4,291,486 shares in the last quarter. Finally, Sound Shore Management Inc. CT bought a new stake in Pfizer during the first quarter valued at $126,948,000. Hedge funds and other institutional investors own 69.65% of the company’s stock.
Shares of Pfizer Inc. (NYSE:PFE) traded down 0.38% during midday trading on Thursday, hitting $34.15. 16,736,523 shares of the company were exchanged. The stock has a market capitalization of $207.14 billion, a price-to-earnings ratio of 30.27 and a beta of 0.87. Pfizer Inc. has a 52-week low of $28.25 and a 52-week high of $37.39. The company has a 50-day moving average price of $34.74 and a 200-day moving average price of $33.87.
Pfizer (NYSE:PFE) last posted its quarterly earnings data on Tuesday, August 2nd. The biopharmaceutical company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.02. Pfizer had a net margin of 14.88% and a return on equity of 23.37%. The firm had revenue of $13.10 billion for the quarter, compared to analyst estimates of $13.01 billion. During the same period last year, the firm posted $0.56 EPS. Pfizer’s quarterly revenue was up 10.9% on a year-over-year basis. On average, analysts forecast that Pfizer Inc. will post $2.46 EPS for the current year.
Several research firms have weighed in on PFE. Sanford C. Bernstein set a $38.00 target price on shares of Pfizer and gave the stock a “buy” rating in a research report on Tuesday, August 2nd. Barclays PLC reissued an “equal weight” rating and set a $34.00 target price on shares of Pfizer in a research report on Tuesday, August 2nd. Vetr downgraded shares of Pfizer from a “buy” rating to a “hold” rating and set a $37.97 target price on the stock. in a research report on Thursday, July 14th. Jefferies Group set a $40.00 target price on shares of Pfizer and gave the stock a “buy” rating in a research report on Monday, August 1st. Finally, JPMorgan Chase & Co. set a $40.00 target price on shares of Pfizer and gave the stock a “buy” rating in a research report on Monday, July 25th. Ten investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. Pfizer currently has a consensus rating of “Buy” and a consensus target price of $38.78.
Pfizer Inc is a research-based global biopharmaceutical company. The Company is engaged in discovering, developing and manufacturing of healthcare products. Its portfolio includes medicines, vaccines and medical devices, as well as consumer healthcare products. Its products include Prevnar/Prevenar 13, Lyrica, Enbrel, Lipitor, Viagra, Sutent, BeneFIX, Genotropin, ReFacto, Xyntha and Enbrel.
Want to see what other hedge funds are holding PFE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pfizer Inc. (NYSE:PFE).
Receive News & Ratings for Pfizer Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pfizer Inc. and related companies with MarketBeat.com's FREE daily email newsletter.